White Brook Capital on Qurate Retail (QRTEA): “We Lost Money on the Investment”

White Brook Capital, an asset management firm, published its first-quarter 2021 investor letter – a copy of which can be downloaded here. At quarter-end, the Fund was 91.41% invested across 10 positions. For the quarter, the Fund’s NAV increased by 2.98%, net of all realized and accrued fees vs the S&P 400 MidCap Index down 4.88% and the S&P 500 Index down 4.60%. This performance was the result of stock-specific selection and positions us well to take advantage of further opportunities this year. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, White Brook Capital mentioned Qurate Retail, Inc. (NASDAQ:QRTEA) and explained its insights for the company. Founded in 1991, Qurate Retail, Inc. (NASDAQ:QRTEA)  is an Englewood, Colorado-based media holding company with a $1.8 billion market capitalization. Qurate Retail, Inc. (NASDAQ:QRTEA)  delivered a -38.42% return since the beginning of the year, while its 12-month returns are down by -60.85%. The stock closed at $4.68 per share on April 19, 2022.

Here is what White Brook Capital has to say about Qurate Retail, Inc. (NASDAQ:QRTEA) in its Q1 2022 investor letter:

“During the quarter, White Brook exited Qurate Retail, Inc (NASDAQ:QRTEA). Our position in Qurate had been previously reduced during the fourth quarter to offset taxable gains. When the company preannounced a negative quarter during the first quarter, we sold the remaining position. While I stand behind the thesis and believe the company is committing more intensely to the strategy outlined, the company is undergoing execution difficulties at an inopportune time. We lost money on the investment and have since redeployed the capital to better opportunities.”

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Our calculations show that Qurate Retail, Inc. (NASDAQ:QRTEA) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Qurate Retail, Inc. (NASDAQ:QRTEA) was in 32 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 34 funds in the previous quarter. Qurate Retail, Inc. (NASDAQ:QRTEA) delivered a -39.06% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on Qurate Retail, Inc. (NASDAQ:QRTEA) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.